I have a feeling that a lot of people will understand the sentiment behind the "system" I am about to explain. I have been trading forex (at the time of writing) for about a year and a half and in that time I have tried everything (and I mean everything) to try and make a consistent profit. I have tried trading 1 min charts, 5 min charts, 15 min charts and I know for a FACT that trading 15 min charts using pivot points on GBP/USD IS a profitable method BUT to make money CONSISTENTLY you need to have iron discipline which I unfortunately do not have.
I have traded longer term charts, analising the daily and weekly charts for a while, using support and resistance, following the trend but still I am not much better than break even and mostly because of a lack of discipline.
I have read (it feels like) every book available about how to trade and still I have not consistenly made a profit.
Finally I feel I have stumbled upon (thought up for myself at least) something which uses logic and probability to give me a system that works for me.
I have to stress the above bit very strongly. It works for ME.
On this first post I would like to publicly thank a few members of this great forum... James16 (hero), Clockwork71 (hero), Jacko (hero), Strat and a few others.
The above people have helped me see my way to MY method for trading forex. I don't follow everything they suggest or do but that's the great thing about trading, it's not about the market it's about the person pushing the mouse buttons.
What I hope to achieve by starting this thread is to create a haven for the rest of us, those lost and depressed souls who have been struggling to make money from trading for a while and no matter how hard they try just can't muster the fortitude and discipline required to make that consistent profit. I don't expect you to follow this system to the letter, you may have your own ideas and twists on it and that is the whole point. A system is only as good as the person who follows it and if I can give some people some quality ideas and help some newer traders to use James16/Clockwork/Jacko's ideas and put it together into something that works for YOU then I will have "given back" that certain something that I have "taken" from this forum.
I will set out the basic ideas below but it is up to you to make your own version of this method that YOU are comfortable using. There are many ways to make a profit from the forex markets and I believe I have found the one for me that I will be following for the near (and probably far) future.
I wish you the best of luck with your forex future (hoping mainly that you have one!) and I hope that some of the people that read this will find a home here where we can discuss the finer points of my initial idea.
I have traded longer term charts, analising the daily and weekly charts for a while, using support and resistance, following the trend but still I am not much better than break even and mostly because of a lack of discipline.
I have read (it feels like) every book available about how to trade and still I have not consistenly made a profit.
Finally I feel I have stumbled upon (thought up for myself at least) something which uses logic and probability to give me a system that works for me.
I have to stress the above bit very strongly. It works for ME.
On this first post I would like to publicly thank a few members of this great forum... James16 (hero), Clockwork71 (hero), Jacko (hero), Strat and a few others.
The above people have helped me see my way to MY method for trading forex. I don't follow everything they suggest or do but that's the great thing about trading, it's not about the market it's about the person pushing the mouse buttons.
What I hope to achieve by starting this thread is to create a haven for the rest of us, those lost and depressed souls who have been struggling to make money from trading for a while and no matter how hard they try just can't muster the fortitude and discipline required to make that consistent profit. I don't expect you to follow this system to the letter, you may have your own ideas and twists on it and that is the whole point. A system is only as good as the person who follows it and if I can give some people some quality ideas and help some newer traders to use James16/Clockwork/Jacko's ideas and put it together into something that works for YOU then I will have "given back" that certain something that I have "taken" from this forum.
I will set out the basic ideas below but it is up to you to make your own version of this method that YOU are comfortable using. There are many ways to make a profit from the forex markets and I believe I have found the one for me that I will be following for the near (and probably far) future.
I wish you the best of luck with your forex future (hoping mainly that you have one!) and I hope that some of the people that read this will find a home here where we can discuss the finer points of my initial idea.